Lead

SEOUL, April 21 (Yonhap) — South Korea's benchmark stock index on Tuesday broke above the level it had held just before the outbreak of the U.S.-Iran war, signaling that investor confidence is recovering from the extreme swings that marked the past several weeks.

The KOSPI hovered around 6,340 to 6,350 points during morning trading, up nearly 2 percent from the previous session's close, after touching an intraday high of 6,361.17. The index's previous closing peak of 6,307.27 was recorded on Feb. 26.

Coverage Comparison

Reports from Yonhap, South Korea's leading wire service, consistently confirmed the index's movement above its pre-conflict high, the specific levels reached, and the timeline. All versions noted that Seoul shares had experienced "extreme volatility" since the war began, with single-day swings of as much as 12 percent downward and 9 percent upward.

One version of the report highlighted optimism surrounding U.S.-Iran peace talks and a revival in the technology sector, while another focused primarily on the index's recovery from the conflict-related slump. The reports agreed on the core market data and attributed the turnaround to easing concerns over the Middle East.

Key Claims

The following facts were consistently reported across all three versions of the Yonhap dispatch:
  • The KOSPI breached its pre-conflict high on April 21, trading near the 6,340–6,350 level.
  • The previous record close of 6,307.27 was set on Feb. 26.
  • The market had suffered from extreme volatility since the onset of the U.S.-Iran war, with daily moves of -12% and +9% at points.
Additional details from at least one version:
  • Han Ji-young, an analyst at Kiwoom Securities, said the market is "becoming less sensitive" to developments in the Middle East and that global markets have also been affected but volatility has eased.
  • Foreign investors appear to be returning after offloading a record 35 trillion won (US$23.8 billion) of local stocks last month.
  • Optimism over Samsung Electronics' strong quarterly earnings, with the company reporting operating profit above 50 trillion won for the first quarter, was seen as supporting the tech rally.
  • The government's measures to boost shareholder returns and reform capital markets were cited as potential drivers for further gains.
A select version of the report also mentioned that Goldman Sachs had raised its 12-month target for the KOSPI to 8,000 points from 7,000, and that JPMorgan Chase cited South Korea as a "top preferred market" in the region with a bull case of 8,500 points. These claims appeared in one edition only and have not been independently corroborated.

Perspectives

South Korean market watchers view the rebound as evidence that investors are increasingly able to look past geopolitical risks and focus on fundamental strengths such as the AI-driven chip demand and corporate reform efforts. The easing of volatility from the peaks seen during the conflict suggests a gradual normalization in trading conditions.

However, some caution is warranted. The conflict remains unresolved, and the market's sensitivity to any escalation could quickly return. The scale of foreign selling in the previous month indicates that risk aversion had been significant, and the sustainability of the current recovery depends on continued progress in peace talks and sustained earnings momentum from the tech sector.

Market participants also noted that global stock markets have been affected by the same geopolitical factors, meaning that the Korean index's recovery is part of a broader regional trend rather than an isolated outperformance. As one analyst, Han Ji-young, put it, "Market volatility has eased to some degree," but he did not rule out further turbulence.